Why are US fuel prices high if America is the top oil producer?
The United States is currently the world’s largest producer of oil and natural gas. That puts US energy exporters in a strong position as war in the Middle East disrupts global supplies and pushes prices higher.
But many Americans are asking why they are still paying so much at the fuel pump if their country is producing – and exporting – record amounts of energy.
Al Jazeera’s Um-e-Kulsoom Shariff breaks down how the system works, who is benefiting, and why US drivers are still feeling the pain.
Subscribe to our channel: http://bit.ly/AJSubscribe
Follow us on Twitter: https://twitter.com/AJEnglish
Find us on Facebook: https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
Download AJE Mobile App: https://aje.io/AJEMobile
#OilPrices #FuelPrices #USEconomy #USOil #USGas #EnergyMarkets #MiddleEastWar #GlobalEnergy #PetrolPrices #GasPrices #OilExports #AlJazeeraEnglish
50 Comments
High gas price in US is still very cheap compare to EU, mid-east and Asia. Don’t complain if your nation didn’t send a navy to help reopen the trait because your leaders are 🤜👌👅.
It's called ripping ppl off big time.
Greed.
We are definitely going to be "tired of winning" mr.Trump. Another "victory" for US. Thank you, I did not vote for you, but my country did, now we completely dicksucking half of the year in
US is a failed state by making its people suffer.
Why? Because it is all a scam! It is not real. Money is not real. They type money into a screen. It is all a Fugazi. The entire system is a Fugazi.
Is the global market economy, stpi.
Arabs will everything start from their families end to economy and religion. Arabs losing dunya and akhira both.
Profit for US companies not US citizen that's the point to take away
Not exactly true…each country that produces alot can keep prices down.They choose not too because the oil companies are raking in triple profits !!!…There needs to be an extra tax placed on these profits !!!!
If you need to ask yourself this question you're stupid, plain and simple because you're the kind trump counted on its greed
Iranian people & Iran are not benefiting enough from their own black gold revenu for modernizing rapidly its infrastructures & improving socio-economically since the greedy industrial countries & sharks Petrolium Cartels purchae & conserve the most portion of its cheap crude oil & then convert it to the different products & resell it back at higher prices in different international market.
The title is not what the video is about.
She literally told us nothing to justify why gas prices are higher in the US ??
The answer is, oil and natural gas are traded on the global market which is experiencing a massive shortage in supply due to this stupid and pointless war.
Wow shows how greed gets the best of us ya they profit cuz like I said they get greedy
So essentially we should have stayed isolationists and let the old world burn to the ground.
operation EPIC STEAL! trump works for the OIL companies..
this iran war, trump knew IRAN would close the straight and thats EXACTLY what trump wanted..
😂😂😂😂😂😂😂😂 very funny, anything to discredit yeah, okay
Its called free market price 😂😂
The u.s. is trying to control the international energy infrastructure. The never-existing nuclear weapons were just a pretext for invasion and aggression
Dumb clip theres an oil cartel always has been
GOP GREED OVER PEOPLE
In markets, prices tend to be set by the marginal producers. So, the most difficult to source and refine product streams will surge costs, if not risks, to all. Insurance is another topic to study to figure why this phenomenon prevails.
Someone check how many American politicians that's invested heavily in oil stocks , You will getvthe anwser on that question .
An old excuse to raise prices
The US is the leading producer and exporter, but we are also the only of the top 5 producers where the consuners are heavily impacted by oil prices. It defeats the purpose of being a leader of production if the consumers receive no benefit, especially considering the federal leases technically belong to the tax payers.
Operation Epstein Fury
FYI: For the US, natural gas prices are in fact, insulated against market pressures. Trading is canalized far more easily as the refining process is less centralized. (re: Henry Hub)
There is no such thing as American oil. It is all owned by oil companies. Gas , crude and every petro product is priced on the world market, not local markets.
Great question! Here's the answer,You were lied to
So dems went to war with iraq based on lies and who voted for democrats now is blaming republicans for going to war with iran based also on lies?
😂😂😂 The hypocrisy.
Trump has put whole world in crisis.
WELDONE IRAN . CLOSED STRAIT OF HOMUZ. FOR AMERICA . AND ISRAHELL
This guy when he visited Arab countries he felt very bad after seeing what he was not expecting in Arabs,he was so shocked (he got hasad) then he went back and planned with his evil people how to distract the economy of the Arab nations ,such that they become beggars to America as African countries and others. And he is now implementing his strategy. Unfortunately Arabs contributed trillions of $ in that strategy we can say unknowingly because he was threatening everybody, they thought maybe if they give him trillions he will not harm them. Unfortunately he has used the same trillions not to threaten them but to DISMANTLE THEIR DIGNITY THEIR BEAUTIFUL PROFILE .That is the worst miscalculation of the Arab leaders. May GOD rescue them
Al Jazeera is sad that the Middle East not benefitting from oil price increase. Instead Russian is getting all the profits
Blames notorious preemptive striker Esraillis shattered world economy yet no one is condemns ,as in the since 1948 no one openly open and strongly opposed the Aggresive regime of colonizers now even poses undeclared extreme nukes weapons.Its dead zone region all kings and dictators puppets needs this warmongers Esraillis protection even indirectly gifts protection fees by scrap buying and middlemen collection of chocolates
Its corrupt covid all over again. When are you idiots in country's like the US going to sort your criminal leaders?? F…kn get on with it sheep!!!
Because we have to send our allies fuel. Which means US citizens have to pay more.
They are stealing the oil . They dont have one oil
Gas of line?
Because pedophile rapist Adolf Donald Trump is a liar.
Because it’s cheaper to import until it’s about $5/gallon at the pump in the US. After that, the fracking starts up again…
Corporate greed
Producers getting it on other nations
We have more oil than canada?
The easiest way is for Trump to issue his Executive Order for oil sold locally to be fixed at pre war price! But that only helps the poor regular citizens but definitely would anger and frustrate all his rich financial supporters from making a fortune, something he'll never do.
In the same 1970's it was discovered that US oil was running out. So they stopped using it in order to keep some in reserve. Arab oil imports increased 3 or 4 fold, in order to run the wells dry before ever using US oil.. All US wars were about keeping a fake economy going. Now the debt collectors are here. So Trump is trying to shoot them to keep his house. Is China the #1 economy yet??? That is why Trump says NO INTERNATIONAL LAW. LEAVE US ALONE! GO AWAY, WE'RE NOT HOME! This is how the jews operate – debt must be paid or how can lenders be taken seriously. Hence the Israeli deals with arabs.
Gas is only high in America cauae of greed nothing else we pump our own oil and refine it and we just took oil lol
Due to Trumps idiocy I'm now paying $8.80 (equivalent) for a US gallon of diesel ! Thanks for that.